Top FRM jobs Roles in India after level 1 & 2 | Everything about FRM Certifications

The Financial Risk Manager (FRM) certification is like a special badge that shows you know a lot about managing financial risks. In India, this badge is really important, opening up many exciting job opportunities in the financial world. Imagine working in a bank, and insurance company, or an investment firm, where you help protect money from risks. The FRM certification is like a key that unlocks these doors. It is like learning a secret language that everyone in the finance world speaks. You’ll learn about things like market risk (when prices go up and down), credit risk (when someone doesn’t pay back a loan), operational risk (when things go wrong in a company), and liquidity risk (when it’s hard to get money quickly). With this knowledge, you can become a risk analyst, a risk manager, or even a chief risk officer, leading a team of experts who keep money safe. So, if you are interested in a challenging and rewarding career in finance, the FRM certification is a great way to get started in India. This certification has two levels. So here we will talk about job and career opportunities after both the levels.

Eligibility Requirement for FRM

• Pass the FRM Exams
  • FRM Part I: Focuses on foundational risk management concepts, tools, and techniques.
  • FRM Part II: Covers advanced risk management topics and their application

• Demonstrate Relevant Work Experience
  • After passing both parts of the exam, you must demonstrate 2 years of full-time professional work experience in financial risk management or a related field. This experience must be completed within 5 years of passing the FRM Part II exam.
  • Eligible Work Experience: Includes roles in risk management, portfolio management, trading, auditing, academia, or other areas directly related to financial risk.
  • Non-Eligible Work Experience: Internships, part-time roles, or non-financial roles are generally not accepted.

• GARP’s Code of Conduct
  • You must agree to abide by GARP’s Code of Conduct and Code of Ethics, which emphasize professionalism, integrity, and ethical behavior in the field of risk management.

• Submit Your Work Experience
  • Once you meet the work experience requirement, you must submit your experience to GARP for verification. This is done through your GARP account.

Jobs after passing FRM level 1

If you have passed the FRM level 1 exam, so you have a solid foundation in the world of financial risk management. Think of it like having a map that shows you all the different types of risks that can happen in the financial world, from market risks like stock prices going up and down, to credit risks when someone doesn’t pay back a loan, and even operational risks when things go wrong in a company. This knowledge opens up a lot of doors for you! You can start looking for entry-level jobs in risk management departments at banks, insurance companies, or even investment firms. You could also work for regulatory bodies like the Reserve Bank of India or the Securities and Exchange Board of India, helping to make sure that financial rules are followed. The FRM level 1 certification is like a stepping stone to a rewarding career in finance, where you’ll be helping to protect money and keep things running smoothly. So here are some jobs that will help you to boost your experience and knowledge for the further level of FRM.

1. Financial Analyst:

A financial analyst is a professional, who helps individuals, businesses and organizations make informed decisions about their finances. They do this by analyzing financial data, identifying trends, and making predictions about future financial performance. Financial analyst use their expertise to advise clients on investments, funding, and other financial matters. They prepare financial reports, forecasts, and models to help clients understand their financial situation and make informed decisions. Financial analyst may work in various industries, including banking, investment, and corporate finance. They must have strong analytical, communication, and problem-solving skills to succeed in their role. Financial analyst often work with financial software, spreadsheets, and databases to analyze data and create financial models. They must stay up-to-date with financial regulations, laws, and industry trends to provide accurate and relevant advice to their clients. Overall, financial analyst play a critical role in helping individuals and organizations achieve their financial goals and make informed decisions about their financial resources.

• Skills required:
  • Proficiency in financial modeling and valuation techniques.
  • Strong Excel and data analysis skills.
  • Knowledge of financial markets and instruments.

• Top companies who hires financial analyst:
  • BlackRock
  • KPMG
  • Ernst & Young (EY)
  • Credit Suisse
  • Wells Fargo

• Average salary: ₹15 lakhs to ₹30 lakhs per annum ²

2. Compliance Analyst:

Think of a compliance analyst as the rule enforcer of the financial world. They are the ones who make sure that companies are following all the laws and regulations that govern how they handle money. It’s like being a referee, but instead of calling fouls on the basketball court, they’re making sure that companies are playing by the rules of finance. They check that companies are keeping proper records, that they’re not engaging in risky or illegal activities, and that they’re treating their customers fairly. They might review transactions, investigate potential violations, and even help companies create new policies to stay compliant. It’s a job that requires attention to detail, a strong understanding of regulations, and a commitment to ensuring that the financial system operates fairly and ethically.

• Skills required:
  • Knowledge of financial regulations (e.g., Basel III, Dodd-Frank).
  • Strong attention to detail and problem-solving skills.
  • Excellent communication and reporting skills.

• Top companies who hires compliance analyst:
  • PwC
  • KPMG
  • EY
  • Deloitte
  • HSBC

• Average salary: ₹15 lakhs to ₹30 lakhs per annum ²

3. Market Risk Analyst:

Imagine you’re a weather forecaster, but instead of predicting rain or sunshine, you’re predicting the ups and downs of the financial markets. That’s what a market risk analyst does. They study market trends, economic indicators, and historical data to understand the potential risks and opportunities that lie ahead. They use their knowledge to help companies and investors make smart decisions, minimizing the impact of unexpected market fluctuations. It’s like navigating a stormy sea, but instead of a compass, they use their analytical skills and understanding of financial data. They might advise on hedging strategies, assess the impact of changing interest rates, or analyze the risks associated with different investments. It’s a challenging and ever-evolving job that requires a keen eye for detail, a strong understanding of financial markets, and the ability to think strategically about the future.

• Skills required:
  • Understanding of market risk metrics (e.g., VaR, stress testing).
  • Knowledge of derivatives and hedging strategies.
  • Strong quantitative and programming skills.

• Top companies who hires market risk analyst:
  • Deutsche Bank
  • UBS
  • Nomura
  • BNP Paribas
  • Societe Generale

• Average salary: ₹15 lakhs to ₹30 lakhs per annum

4. Operational Risk Analyst:

An operational risk analyst is like a detective, but instead of solving crimes, they’re looking for weaknesses in a company’s operations. They investigate how a company runs its day-to-day business, looking for potential risks that could cause problems like fraud, data breaches, or even a complete shutdown. They might examine internal processes, assess technology systems, and even interview employees to understand how things work and where things could go wrong. It’s like building a puzzle, but instead of colorful pieces, they’re piecing together information about potential threats and vulnerabilities. Their job is to identify these risks and recommend ways to mitigate them, making sure the company is operating safely and efficiently. It’s a job that requires a sharp mind, a keen eye for detail, and a strong understanding of how businesses function.

• Skills required:
  • Understanding of operational risk frameworks (e.g., COSO, RCSA).
  • Strong problem-solving and communication skills.
  • Knowledge of regulatory requirements.

• Top companies who hires operational risk analyst:
  • Accenture
  • Capgemini
  • Infosys
  • Tata Consultancy Services (TCS)
  • Wipro

• Average salary: ₹7.5 lakhs – ₹10+ lakhs per year

5. Risk Consultant:

A risk consultant is a professional who helps organizations, identify, assess, and manage risks that could potentially harm their business. They use their expertise to analyze an organization’s operations, finances, and other areas to identify potential risks, such as financial losses, reputational damage, or operational disruptions. Risk consultant then work with the organization to develop strategies to mitigate or manage these risks, such as creating contingency plans, implementing new policies or procedures, or investing in insurance or other risk management tools. The goal of a risk consultant is to help organizations minimize their exposure to risk and ensure that they are prepared to respond quickly and effectively in the event of a crisis. Risk consultants may work in a variety of industries, including finance, healthcare, technology, and government, and may specialize in specific areas of risk, such as cybersecurity, regulatory compliance, or environmental risk. By helping organizations manage risks, risk consultant play a critical role in protecting their clients’ assets, reputation, and their bottom line.

• Skills required:
  • Strong communication and presentation skills.
  • Knowledge of risk management frameworks and tools.
  • Problem-solving and client management skills.

• Top companies who hires risk consultant:
  • McKinsey & Company
  • Boston Consulting Group (BCG)
  • Bain & Company
  • Accenture
  • Deloitte

• Average salary: ₹30 lakhs to ₹1.5 crore per annum ³

Jobs after passing FRM level 2

Passing the FRM Level 2 is a big deal – it shows you’ve got serious financial risk management chops! Now, the world of finance opens up with exciting opportunities. You’ve got the knowledge to work in risk management departments at banks, insurance companies, investment firms, and even consulting firms. Think about it like this: you’ve got the skills to be a financial detective, spotting risks and figuring out how to protect companies from them. You might be analyzing market trends, building risk models, or developing strategies to manage financial risks. Some doors might even open to becoming a certified financial risk manager, which adds another level of credibility to your expertise. The possibilities are endless, and you’ve got the key to unlock them. So, here are some jobs and career opportunities, that you may have after passing the FRM level 2.

1. Portfolio Manager:

A portfolio manager is a professional responsible for managing investment portfolios on behalf of individuals, companies, or financial institutions. Their primary goal is to maximize returns while minimizing risk, based on the client’s investment objectives and risk tolerance. Portfolio managers achieve this by selecting and combining various assets, such as stocks, bonds, mutual funds, and other securities, to create a diversified portfolio. They continuously monitor market trends, economic conditions, and company performance to make informed investment decisions. Portfolio managers also rebalance the portfolio as needed to ensure it remains aligned with the client’s goals and risk tolerance. Effective portfolio managers possess strong analytical, communication, and problem-solving skills, as well as a deep understanding of financial markets and investment principles. They often work closely with clients to understand their unique needs and goals, providing personalized investment advice and guidance. By entrusting their investments to a skilled portfolio manager, clients can benefit from expert knowledge, reduced risk, and potentially higher returns over the long term.

• Skills required:
  • Asset allocation and diversification strategies.
  • Financial modeling and performance analysis.
  • Knowledge of financial products (equities, bonds, derivatives).
  • Strong communication and client relationship management skills.

• Top companies who hires Portfolio manager:
  • BlackRock
  • Vanguard
  • Fidelity investment
  • T. Rowe Price
  • JPMorgan Asset Management

• Average salary: ₹15 lakhs to ₹30 lakhs per annum

2. Quantitative Analyst (Quant):

A quantitative analyst, also known as a quant, is a professional who uses mathematical and statistical techniques to analyze and solve complex financial problems. They work in banks, investment firms, and other financial institutions, helping to make informed investment decisions, manage risk, and optimize returns. Quantitative analysts use advanced mathematical models, such as statistical analysis, machine learning, and data mining, to identify patterns and trends in large datasets. They also develop and implement algorithms to analyze and optimize trading strategies, risk management systems, and investment portfolios. Quantitative analysts must have a strong foundation in mathematics, statistics, and computer programming, as well as a deep understanding of financial markets and instruments. They often work closely with traders, portfolio managers, and other financial professionals to provide insights and recommendations that inform investment decisions. By combining mathematical rigor with financial expertise, quantitative analysts play a critical role in helping financial institutions navigate complex markets and make informed investment decisions.

• Skills required:
  • Strong background in statistics, mathematics, and programming (Python, R, C++, Matlab).
  • Financial engineering and quantitative modeling.
  • Knowledge of derivatives and financial markets.
  • Experience with machine learning algorithms and big data analytics.

• Top companies who hires Quantitative analyst:
  • Two Sigma
  • Citadel
  • Renaissance Technologies
  • Goldman Sachs
  • JPMorgan Chase

• Average salary: ₹25–50+ lakhs per annum.

3. Compliance Officer (Risk Focused):

Think of a compliance officer (risk focused) as the company’s guardian of the rules. They’re like a detective who’s always on the lookout for any potential violations or risks that could harm the company. They dig deep into the company’s operations, reviewing policies, procedures, and transactions to make sure everything aligns with the law and industry regulations. They might also investigate potential fraud or misconduct, ensuring that the company is acting ethically and responsibly. It’s a job that requires a sharp mind, a strong understanding of regulations, and the ability to communicate effectively with both internal and external stakeholders. They’re the ones who make sure the company stays on the right side of the law, protecting it from potential risks and legal consequences.

• Skills required:
  • In-depth knowledge of financial regulations (Dodd-Frank, MiFID II)
  • Risk management frameworks and compliance procedures
  • Attention to detail and strong organizational skills
  • Regulatory reporting and audit preparation

• Top companies who hires Compliance officer (risk focused):
  • Deloitte
  • PwC
  • KPMG
  • Goldman Sachs
  • Bank of America

• Average salary: ₹15–30+ lakhs per annum.

4. Treasury Analyst:

A treasury analyst is a professional responsible for managing an organization’s financial resources, including its cash, investments, and funding. They play a crucial role in ensuring the company has sufficient liquidity to meet its financial obligations, while also maximizing returns on its investments. Treasury analysts analyze financial data, market trends, and economic conditions to provide insights that inform strategic decisions. They develop and implement cash management strategies, manage foreign exchange and interest rate risk, and oversee the issuance of debt and equity financing. Additionally, treasury analysts work closely with other departments, such as accounting, finance, and operations, to ensure alignment with the company’s overall financial goals. They must possess strong analytical, communication, and problem-solving skills, as well as a deep understanding of financial markets, instruments, and regulations. By effectively managing an organization’s financial resources, treasury analysts help to minimize risk, maximize returns, and drive business growth. They are essential members of the finance team, providing critical support to senior management and helping to shape the company’s financial strategy.

• Skills required:
  • Cash flow forecasting and liquidity management
  • Financial risk management (interest rate and currency risks)
  • Knowledge of treasury management systems (e.g., Kyriba, GTreasury)
  • Strong Excel, financial modeling, and analytical skills

• Top companies who hires Treasury analyst:
  • Apple
  • Amazon
  • General Electric
  • JPMorgan Chase
  • Citi

• Average salary: ₹25-40 lakhs per annum

5. Credit Risk Analyst:

A credit risk analyst is a professional who helps lenders, such as banks and financial institutions, make informed decisions about who to lend money to and how much to lend. They do this by analyzing the creditworthiness of individuals, businesses, and organizations. Think of it like this: when you apply for a loan, the lender wants to know if you’ll be able to pay them back. A credit risk analyst helps them figure that out by looking at things like your credit history, income, and debt. They use special computer models and tools to predict the likelihood of you paying back the loan. Based on their analysis, they provide recommendations to the lender about whether or not to approve the loan and how much interest to charge. The goal of a credit risk analyst is to help lenders make smart decisions that minimize the risk of not getting paid back. They play a critical role in helping lenders provide credit to people and businesses who need it, while also protecting the lender’s interests.

• Skills required:
  • Credit risk models (e.g., credit scoring, PD, LGD, EAD)
  • Knowledge of credit ratings and financial analysis
  • Strong Excel, SQL, and risk software skills (e.g., Moody’s, S&P)
  • Regulatory knowledge (Basel regulations)

• Top companies who hires Credit risk analyst:
  • Wells Fargo
  • Barclays
  • Credit Suisse
  • Standard Chartered
  • Moody’s

• Average salary: ₹25-40 lakhs per annum ³

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